On 12 and 13 December 2019, the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) has successfully issued VND1,738 billion of 6 and 7-year bonds.

The total value of bonds issued consists of VND950 billion 6-year bonds issued on 12 December 2019; VND587 billion 6-year bonds and VND201 billion 7-year bonds issued on 13 December 2019.

BIDV has the right to call the 6-year bonds after 1 year, and the 7--year bonds after 2 years from the issue date.

The interest rates are calculated as follows: the Reference Rate (which is the average of 12-month interest rates for individual savings deposit denominated in Vietnamese Dong with interest paid at maturity of 4 banks including Agribank, Vietinbank, BIDV, and Vietcombank) plus 1.4% p.a.

The bonds are non-convertible, non-warranted, non-guaranteed, denominated in VND, establishing the direct debt repayment obligations, being subordinated debts of BIDV, and meeting the current regulations to be calculated in BIDV’s tier 2 capital.